Karima BrownShow

African National Congress (ANC ) chairperson Gwede Mantashe has told the Zondo Commission that Gupta-owned Oakbay Investments wanted to put pressure on the banks that closed their family business accounts to reopen them.

Mantashe was testifying at the inquiry on behalf of the ANC on Tuesday.

Previously, some of the country’s biggest banks testified that their executives were summoned to a meeting at Luthuli House after closing the accounts.

They asked him about the evidence that was presented before the commission, coming from some of those major banks who spoke about how they were summoned to Luthuli House to explain their decision. Mantashe says they did request the meeting but it was merely to understand where they were coming from.

— Clement Manyathela, EWN reporter

The first meeting they had was the Gupta-owned Oakbay company. They explained that they were worried about potential job losses and therefore they needed the ANC to somehow intervene, Mantashe says the Gupta company wanted the ANC to put pressure on those banks to re-open their accounts.

— Clement Manyathela, EWN reporter

When they met with the banks, the banks explained the laws and regulations that govern how they do business....on that basis of that explanation, they accepted and that's where the issue was closed on their side.